The national roll-out of the new £100 spending limit for contactless card payments will begin from 15 October 2021.
The decision to raise the contactless limit from £45 to £100 was made by HM Treasury and the Financial Conduct Authority following a public consultation and in discussion with both the retail and banking sectors. It follows on from the successful increase in the limit from £30 to £45 in April 2020.
From 15 October 2021, consumers will start to see retailers accepting contactless payments up to the new £100 limit, which will give customers more flexibility when shopping in store. Given the number of terminals which will need to be updated to accept the new limit, it will take some time to be introduced across all retailers.
Visa is making available new Point of Sale materials for free, for small businesses to increase customer awareness in-store. This will be beneficial for retail and hospitality sectors and any other customer facing business. Point of Sale materials are available for order now, in bulk (packs for 100 businesses).
If you would like some PoS materials please let me know and I will place an order and arrange for them to be distributed to you.